BioLineRx Reports 2025 Financial Results and Provides Corporate Update

BioLineRx Reports 2025 Financial Results and Provides Corporate Update - On track to initiate Phase 1/2a clinical trial of GLIX1 for treatment of glioblastoma (GBM) by end of this month -

- GLIX1 is positioned to potentially address unmet needs for novel and more effective cancer treatments by targeting DNA damage response mechanisms -

- Management to host conference call today, March 23, at 8:30 am EDT -

TEL AVIV, Israel, March 23, 2026 /PRNewswire/ -- BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a development stage biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases, today reported its audited financial results for the year ended December 31, 2025, and provided a corporate update.

"Since our last quarterly update, we have been working diligently to move forward with a Phase 1/2a first-in-human clinical trial of GLIX1 in glioblastoma, and I am pleased to report that we expect to initiate the study by the end of this month, with the commencement of patient enrollment shortly thereafter," stated Philip Serlin, Chief Executive Officer of BioLineRx. "GLIX1, the lead asset that we acquired through our collaboration with Hemispherian, is a unique molecule with a novel mechanism of action that targets the DNA repair mechanism in cancer cells and has demonstrated compelling efficacy in numerous pre-clinical models, excellent blood-brain-barrier penetration and a favorable safety profile in toxicology studies. We are eager to establish the safety, recommended dose and proof-of-concept in order to advance this promising candidate through an efficient development pathway.

"In parallel, we continue to conduct pre-clinical activities in support of further development of GLIX1 in additional cancer indications with high unmet needs, and, separately, we are also conducting studies to further investigate and affirm the potential synergistic effect of GLIX1 in combination with PARP inhibitors, as we work to maximize the value of the GLIX1 opportunity.

"In metastatic pancreatic cancer, enrollment has accelerated in the ongoing CheMo4METPANC Phase 2b clinical trial of motixafortide, which is being led by Columbia University and supported by both Regeneron and BioLineRx, and we continue to anticipate that a prespecified interim/futility analysis will read out in 2026. We believe PDAC represents another opportunity to introduce a much-needed new treatment option to patients suffering from a very challenging tumor type, while creating sustained value for our company," Mr. Serlin concluded.

Corporate Updates

Financial Updates

Clinical Updates

GLIX1

Motixafortide

Pancreatic Ductal Adenocarcinoma (mPDAC)

Sickle Cell Disease (SCD) & Gene Therapy

APHEXDA Performance Update

Financial Results for the Year ended December 31, 2025

A copy of the Company's annual report on Form 20-F for the year ended December 31, 2025 has been filed with the U.S. Securities and Exchange Commission at https://www.sec.gov/ and posted on the Company's investor relations website at https://ir.biolinerx.com. The Company will deliver a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge, to its shareholders upon request at [email protected].

Conference Call and Webcast Information

To access the conference call, please dial +1-888-281-1167 from the U.S. or +972-3-918-0685 internationally. A live webcast and a replay of the call can be accessed through the event page on the Company's website. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the live broadcast. The call replay will be available approximately two hours after completion of the live conference call. A dial-in replay of the call will be available until March 25, 2026; please dial +1-888-295-2634 from the US or +972-3-925-5904 internationally.

About BioLineRx

BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX) is a biopharmaceutical company pursuing life-changing therapies in oncology and rare diseases. The Company's lead development asset is GLIX1, a first-in-class, oral, small molecule targeting DNA damage response in glioblastoma and other solid tumors, for which a Phase 1/2a clinical trial is expected to initiate in the first quarter of 2026. GLIX1 is being developed under a collaboration with Hemispherian AS.

The Company's first approved product, APHEXDA® (motixafortide), is indicated in the U.S. for stem cell mobilization for autologous transplantation in multiple myeloma, and is being commercialized by Ayrmid Ltd. (globally, except Asia) and developed by Gloria Biosciences (in Asia). BioLineRx has retained the rights to develop motixafortide in solid tumors, including metastatic pancreatic cancer (PDAC), and has a Phase 2b PDAC trial currently ongoing under a collaboration with Columbia University.

Learn more about who we are, what we do, and how we do it at  www.biolinerx.com, or on  LinkedIn.

Forward Looking Statement

Various statements in this release concerning BioLineRx's future expectations constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," and "would," and describe opinions about future events. These include statements regarding management's expectations, beliefs and intentions regarding, among other things, the expectations with regard to clinical trials of motixafortide and GLIX1, expected timing of clinical readouts, the expected cash runway, and BioLineRx's business strategy. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause BioLineRx's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the clinical development, commercialization and market acceptance of GLIX1 and motixafortide including the degree and pace of market uptake of APHEXDA for the mobilization of hematopoietic stem cells for autologous transplantation in multiple myeloma patients; the initiation, timing, progress and results of BioLineRx's preclinical studies, clinical trials and other therapeutic candidate development efforts; BioLineRx's ability to advance GLIX1 and motixafortide into clinical trials or to successfully complete its preclinical studies or clinical trials; whether the clinical trial results for GLIX1 and motixafortide will be predictive of real-world results; BioLineRx's receipt of regulatory approvals for GLIX1 and motixafortide and the timing of other regulatory filings and approvals; whether access to GLIX1 and motixafortide is achieved in a commercially viable manner and whether GLIX1 and motixafortide receives adequate reimbursement from third-party payors; BioLineRx's ability to establish, manage, and maintain corporate collaborations, as well as the ability of BioLineRx's collaborators to execute on their development and commercialization plans; BioLineRx's ability to integrate new therapeutic candidates and new personnel, as well as new collaborations; the interpretation of the properties and characteristics of BioLineRx's therapeutic candidates and of the results obtained with its therapeutic candidates in preclinical studies or clinical trials; the implementation of BioLineRx's business model and strategic plans for its business and therapeutic candidates; the scope of protection that BioLineRx's is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; estimates of BioLineRx's expenses, future revenues, capital requirements and its need for and ability to access sufficient additional financing; risks related to changes in healthcare laws, rules and regulations in the United States or elsewhere; competitive companies, technologies and BioLineRx's industry; BioLineRx's ability to maintain the listing of its ADSs on Nasdaq; statements as to the impact of the political and security situation in Israel on BioLineRx's business which may exacerbate the magnitude of the factors discussed above. These and other factors are more fully discussed in the "Risk Factors" section of BioLineRx's most recent annual report on Form 20-F filed with the Securities and Exchange Commission on March 23, 2026. In addition, any forward-looking statements represent BioLineRx's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. BioLineRx does not assume any obligation to update any forward-looking statements unless required by law.

Contacts:

United States

Irina Koffler

LifeSci Advisors, LLC

[email protected]

Israel

Moran Meir

LifeSci Advisors, LLC

[email protected]

BioLineRx Ltd.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

December 31,

2024

2025

in USD thousands

Assets

CURRENT ASSETS

Cash and cash equivalents

10,436

3,250

Short-term bank deposits

9,126

17,626

Trade receivables

2,476

Prepaid expenses

443

201

Other receivables

1,478

410

Inventory

3,145

2,148

Total current assets

27,104

23,681

NON-CURRENT ASSETS

Property and equipment, net

386

160

Right-of-use assets, net

967

696

Intangible assets, net

10,449

16,368

Total non-current assets

11,802

17,224

Total assets

38,906

40,905

Liabilities and equity

CURRENT LIABILITIES

Current maturities of long-term loan

4,479

Accounts payable and accruals:

Trade

5,583

3,493

Other

3,131

1,743

Current maturities of lease liabilities

522

234

Warrants

1,691

2,174

Total current liabilities

15,406

12,123

NON-CURRENT LIABILITIES

Long-term loan, net of current maturities

8,958

4,460

Lease liabilities

1,081

977

Total non-current liabilities

10,039

5,437

COMMITMENTS AND CONTINGENT LIABILITIES

Total liabilities

25,445

17,560

EQUITY

Equity attributable to owners of the Company:

Ordinary shares

38,097

73,428

Share premium

353,693

327,584

Warrants

5,367

3,686

Capital reserve

17,547

15,916

Other comprehensive loss

(1,416)

Accumulated deficit

(399,827)

(401,002)

Total equity attributable to owners of the Company

13,461

18,196

Non-controlling interest

5,149

Total equity

13,461

23,345

Total liabilities and equity

38,906

40,905

BioLineRx Ltd.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

Year ended December 31,

2023

2024

2025

in USD thousands

REVENUES:

License revenues

4,610

22,917

1,180

Product sales, net

190

6,023

Total revenues

4,800

28,940

1,180

COST OF REVENUES

(3,692)

(9,263)

(230)

GROSS PROFIT

1,108

19,677

950

RESEARCH AND DEVELOPMENT EXPENSES

(12,519)

(9,149)

(8,093)

SALES AND MARKETING EXPENSES

(25,270)

(23,605)

GENERAL AND ADMINISTRATIVE EXPENSES

(6,310)

(6,321)

(3,144)

IMPAIRMENT OF INTANGIBLE ASSETS

(6,703)

(1,010)

OPERATING LOSS

(49,694)

(20,408)

(10,287)

NON-OPERATING INCOME (EXPENSES), NET

(10,819)

18,435

8,077

FINANCIAL INCOME

2,068

1,871

1,464

FINANCIAL EXPENSES

(2,169)

(9,119)

(1,280)

LOSS AND COMPREHENSIVE LOSS

(60,614)

(9,221)

(2,026)

ATTRIBUTION OF LOSS AND

COMPREHENSIVE LOSS

To owners of the Company

(60,614)

(9,221)

(1,175)

To non-controlling interests

(851)

(60,614)

(9,221)

(2,026)

in USD

LOSS PER ORDINARY SHARE – BASIC AND

DILUTED ATTRIBUTABLE TO OWNERS OF

THE COMPANY

(0.06)

(0.01)

(0.00)

WEIGHTED AVERAGE NUMBER OF SHARES

USED IN CALCULATION OF BASIC AND

DILUTED LOSS PER ORDINARY SHARE

963,365,525

1,198,107,761

2,465,272,604

BioLineRx Ltd.

STATEMENTS OF CHANGES IN EQUITY

Equity attributable to owners of the Company

Ordinary shares

Share premium

Warrants

Capital reserve

Other comprehensive

loss

Accumulated deficit

Non-

controlling interest

Total

in shares 000's

in USD thousands

BALANCE AT JANUARY 1, 2023

922,959

27,100

338,976

1,408

14,765

(1,416)

(329,992)

50,841

CHANGES IN 2023:

Issuance of share capital, net

124,955

3,242

10,847

14,089

Warrants exercised

38,182

1,000

5,559

6,559

Employee stock options exercised

493

(31)

Employee stock options expired

(55)

Share-based compensation

2,321

Comprehensive loss for the year

(60,614)

BALANCE AT DECEMBER 31, 2023

1,086,589

31,355

355,482

1,408

17,000

(1,416)

(390,606)

13,223

CHANGES IN 2024:

Issuance of share capital, pre-funded

warrants and warrants, net

174,322

4,712

(3,060)

6,650

8,302

Pre-funded warrants exercised

74,989

2,009

682

(2,691)

Employee stock options exercised

770

(49)

Employee stock options expired

539

(539)

Share-based compensation

1,135

Comprehensive loss for the year

(9,221)

BALANCE AT DECEMBER 31, 2024

1,336,670

38,097

353,693

5,367

17,547

(1,416)

(399,827)

13,461

CHANGES IN 2025:

Issuance of share capital, pre-funded

warrants and warrants, net

978,340

27,273

(22,260)

501

5,514

Pre-funded warrants exercised

295,804

8,058

(5,876)

(2,182)

Employee stock options expired

2,027

(2,027)

Share-based compensation

396

Non-controlling interest

6,000

Comprehensive loss for the year

(1,175)

(851)

(2,026)

BALANCE AT DECEMBER 31, 2025

2,610,814

73,428

327,584

3,686

15,916

(1,416)

(401,002)

5,149

23,345

BioLineRx Ltd.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended December 31,

2023

2024

2025

in USD thousands

CASH FLOWS - OPERATING ACTIVITIES

Loss

(60,614)

(9,221)

(2,026)

Adjustments required to reflect net cash used in operating

activities (see appendix below)

38,006

(34,652)

(6,048)

Net cash used in operating activities

(22,608)

(43,873)

(8,074)

CASH FLOWS - INVESTING ACTIVITIES

Investments in short-term deposits

(47,588)

(26,350)

(36,644)

Maturities of short-term deposits

49,329

55,778

28,126

Purchase of property and equipment

(116)

(53)

(25)

Purchase of intangible assets

(181)

(1)

(2)

Net cash provided by (used in) investing activities

1,444

29,374

(8,545)

CASH FLOWS - FINANCING ACTIVITIES

Issuance of share capital, pre-funded warrants and warrants,

net of issuance costs

14,089

16,357

13,894

Exercise of warrants

2,928

Employee stock options exercised

Proceeds from long-term loan, net of issuance costs

19,223

Repayments of loan

(1,543)

(14,433)

(4,498)

Repayments of lease liabilities

(445)

(511)

(512)

Net cash provided by financing activities

15,056

20,658

8,884

INCREASE (DECREASE) IN CASH AND CASH

EQUIVALENTS

(6,108)

6,159

(7,735)

CASH AND CASH EQUIVALENTS - BEGINNING

OF YEAR

10,587

4,255

10,436

EXCHANGE DIFFERENCES ON CASH AND CASH

EQUIVALENTS

(224)

549

CASH AND CASH EQUIVALENTS - END OF YEAR

4,255

10,436

3,250

BioLineRx Ltd.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Year ended December 31,

2023

2024

2025

in USD thousands

APPENDIX

Adjustments required to reflect net cash used in

operating activities:

Income and expenses not involving cash flows:

Depreciation and amortization

1,384

4,065

523

Loss on disposal of property and equipment

Exchange differences on cash and cash equivalents

224

(22)

(549)

Fair value adjustments of warrants

11,054

(18,965)

(8,599)

Share-based compensation

2,321

1,135

396

Interest and exchange differences on short-term

deposits

185

Interest on loan

1,148

(1,126)

Warrant issuance costs

669

702

Exchange differences on lease liabilities

(42)

(31)

177

Intangible assets impairment

6,703

1,010

Loss on abandonment of right-of-use asset

246

22,807

(12,834)

(7,307)

Changes in operating asset and liability items:

Decrease (increase) in trade receivables

(358)

(2,118)

2,430

Decrease (increase) in inventory

(1,953)

(1,192)

997

Decrease (increase) in prepaid expenses and other

receivables

(959)

(43)

1,310

Increase (decrease) in accounts payable and accruals

5,512

(5,508)

(3,478)

Increase (decrease) in contract liabilities

12,957

(12,957)

15,199

(21,818)

1,259

38,006

(34,652)

(6,048)

Supplemental information on interest received in cash

2,020

1,992

1,153

Supplemental information on interest paid in cash

1,111

10,387

1,268

Supplemental information on non-cash transactions:

Changes in right-of-use asset and lease liabilities

149

327

(57)

Fair value of exercised warrants (portion related to

accumulated fair value adjustments)

3,631

Intangible asset acquired in connection with GLIX1

collaboration transaction

6,000

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SOURCE BioLineRx Ltd.